Solvay has agreed to sell its Formulated Resins business to polymer and resin supplier Elantas PDG Inc. Under the agreement, Solvay’s technology solutions business unit will divest the business line, which generated sales of US$20 million in 2015. The divestment includes the formulated resins product portfolio, the manufacturing and R&D facility based in Olean, New York, USA, and all associated technical, commercial and administrative staff. The portfolio mainly entails the CONAP brand epoxy resin and polyurethane product systems and serves electronics, electrical and specialty adhesives markets.
‘The divestment represents a strong strategic fit for both Solvay and Elantas,’ said Michael J. Radossich, president, Solvay Technology Solutions. ‘This transaction enables technology solutions to further extend our leadership position in our core polymer additives business.’
This story is reprinted from material from Solvay, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.